Summary List Placement
After over 12 years in business, Airbnb is finally going public.
The home-rental company filed a form S-1 for its IPO with the Securities and Exchange Commission on Monday afternoon. That included disclosing a trove of information that was previously unknown. For starters: Airbnb is over $2 billion in debt.
Read more: Airbnb’s Brian Chesky says what it was like to watch his company’s revenue plunge 80% in eight weeks and how he decided to go public anyway in exclusive interview
But that’s far from all the filing document has to offer — a section labeled “Risk Factors” details the major issues Airbnb believes it could face. We break down the most important of those potential issues below:
SEE ALSO: Airbnb publicly reveals its IPO filing, giving investors their first look at the travel giant’s finances as it tries to outrun the pandemic
1. The coronavirus pandemic has hurt Airbnb, and could continue to hurt the company.
With millions of people around the world staying home throughout 2020 as the coronavirus pandemic spread from country to country, Airbnb rentals dropped off a cliff.
The company took drastic measures to stem the bleeding: It cut its full-time workforce by a quarter (about 1,800 employees), …read more
Source:: Businessinsider – Tech